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Your client, Xin Lee Wools, is a fabric producer. Xin purchased a new dye machine
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Your client, Xin Lee Wools, is a fabric producer. Xin purchased a new dye machine on 1 May 2017. Xin incurred the following costs:
· Cost of machine $270,000 (effective life: 8 years);
· Removal of old machine $4,000;
· Strengthening of factory floor $5,700;
· Insurance & transport cost for the new machine $1,900; and
· Installation & testing of machine $5,350.
Advise Xin as to the cost of the machine for capital allowance purposes, in accord with S40-175, ITAA97; and the decline in value deduction available for the year ended 30 June 2016
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[Solved] Your client, Xin Lee Wools, is a fabric producer. Xin purchased a new dye machine
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- Submitted On 05 Sep, 2017 05:13:40
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- Beam777
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Your client, Xin Lee Wools, is a fabric producer. Xin purchased a new dye machine
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